Software & Services Industry Insights

Software and services industry has been playing a prominent role in the growth of consumer, business, and government sectors. The huge spread of internet and exponential growth of data usage has positioned the software and services industry as a facilitator of data communication and information in today’s world. The increasing demand for mobility, growing virtualization of data centres and surging demand for robust cloud computing have been the major drivers for software and services industry.

The emerging markets are playing a pivotal role in the industry growth as their demand for online software service, database management, interactive service, and mobile application have been surging.

Energy cloud is a dynamic network that supports distributed energy resources (DER) with a two-way energy flow and can be implemented by a wide range of strategic, technological, operational, commercial and environmental changes, in approach of traditional utility model to increase energy efficiency. The global energy cloud market is growing because of factors such as aging infrastructure, carbon footprint
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Predictive maintenance helps in retrieving multiple data sources in real time to determine the condition of in-service equipment, and check quality issues and asset failures. The increasing demand of big data, internet of things and growing focus of organizations to reduce operational cost, are the key factors resulting in the growth of predictive maintenance market.
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Perimeter intrusion detection system is a device that monitors and prevents any malicious activity inside a fixed area and reports those activities to security information and event management system. The growth of perimeter intrusion detection system market is due to the factors such as increasing risk of terrorism activities and infiltration, increasing government safety regulations, and need to reduce expenditure on manpower by installation of these systems.
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Performance analytics is a tool that provides secure and simple access to key performance indicators and helps companies to enhance their services by providing accurate data required. The growing need to monitor and measure the performance of business and increasing focus of the companies towards optimal utility of resources has led to the emergence of performance analytics market across the globe.
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Integration platform as a service (iPaaS) is a cloud integration platform that integrates application and databases. It can also be defined as a set of clouds based suit, which helps in enabling end-users to develop, manage, govern and integrate application and services as a single, integrated infrastructure. The global iPaaS market has been categorized on the basis on service type, deployment type, organization size and industry. On the basis of service type, the market has been generating highest revenue from cloud serv ...Continue Reading

Electronic signature (E-signature) refers to signatures in electronic form, which helps in speeding up the documentation processes and making them secure. The global e-signature market has been categorized on the basis on deployment mode, type, and use case. On the basis of type of e-signature, the market has been generating highest revenue from public key infrastructure, while username and pin, signature pad at POS, clickwrap and voices signature are the other major types of e-signature. Based on key deployment modes, cl ...Continue Reading

Library management software is an enterprise resource planning and management software for a library, which is used to carry out the library functions such as to track items, bills paid, orders received, and patrons who had borrowed books. Today, librarians are well aware of their increasingly complex relationships concerned workflow, content and discovery. In a bid to enable efficient management of the complexities in libraries, universities and other types of non-academic library environments deploy library management s ...Continue Reading

Mobile cloud music services have brought a significantly notable change in the music consumption patterns of the present era. The service enables consumers to access music through cloud storage platforms from anywhere on a subscription fee basis. Internet connectivity is required to be able to access and download the music from platforms offering mobile cloud music services. The availability of in-built playlists and access to a wide variety of music are some of the special features that will contribute to the growth of m ...Continue Reading

Privileged identity management (PIM) accounts are secured, managed, audited and rotated to ensure stringent security measures are in place against the potential data breaches through unauthorized access. It helps organizations to secure and keep a track of network access and warns the system security professionals of any potential attempts to enter the sensitive information technology network of the organization. Privileged identity access management market is expected to witness significant growth during the forecast per ...Continue Reading

Remote asset management is an analytical system that enables remote monitoring and maintenance of assets, machines and systems. Remote asset management provides real-time two-way communication between the organization’s asset and central monitoring application, which results in better control and management of the assets. Remote asset management thus provides advantages of cost-effectiveness, efficient and convenient surveillance operations, which further push the organisations towards the adoption of the technology ...Continue Reading

Service integration and management (SIAM) systems are deployed to provide a single platform that integrates the services provided by multiple service-suppliers (internal and external) for the organization. It thereby reduces complexities, giving rise to a single business-facing IT platform for the organization. SIAM market holds a promising future as the evolutionary technological trends have resulted in a growing essential demand for service integration capabilities from organizations in a highly competitive and multi-so ...Continue Reading

Cognitive computing refers to the next generation computing systems that converse in human language. The systems help experts across industries to make valuable decisions by understanding various complexities of big data. The rapid growth in global cognitive computing market is attributable to the development in advanced computing technologies such as natural language processing (NLP), automated reasoning, and machine learning, that translate unstructured data into key insights, which can be further sensed, inferred, and ...Continue Reading

Detecting threats at endpoints is an essential component of information security. On account of endpoint detection and response (EDR) system’s ability to detect, understand and stop threats before sensitive information is compromised, increasing number of organizations are deploying the technology to safeguard themselves from such threats. The endpoint security foundation is generally straightforward, and therefore has become relatively easy for system administrators to manage. EDR technologies are capable of keepin ...Continue Reading

Big data analytics in healthcare refers to the use of analytical services such as descriptive and predictive analytics to gain useful and qualitative insights from patient’s healthcare data. The big data analytics in healthcare market is expected to grow rapidly mainly due to factors such as increasing government initiatives to enhance the EHR adoption in healthcare industry, mounting pressure to curb the high spending on healthcare services, need for improved patient quality outcomes, and increasing adoption of big ...Continue Reading

Rising demand to implement a cost-effective translation system across businesses to improvise business process, is expected to drive the acceptance rate of machine translation during the forecast period. Increasing need of cost efficient solutions is also likely to back the adoption of MT services, globally. Along with being cost-effective in nature, these services have the capability to perform translation at much faster speed than human translators. Vendors of MT have been focusing their R&D spending to develop cost ...Continue Reading

Workplace transformation helps business organizations in transforming the physical office space and creating an engaging work environment for the employees. This transformation occurs when human behavior, technology and real-estate are used together to create flexible, fun and cooperative working environments that encourage innovation. It also helps the business organizations in increasing productivity, improving employee engagement and
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Data science refers to the field of next generation computing, where certain tools and algorithms are applied to the big data for deep analysis. Data science platform is the integration of mathematical programming, statistics, various problem solving techniques, data filtering methods, and other algorithms. Various organizations deploy data science platform to extract valuable insights out of the huge structured and unstructured raw data present within their ecosystem.
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Retail cloud refers to cloud technology designed for retailers to enable them with cost effective streamlined operations, flexibility of scaling up and down the production process, real time data reporting for interactive customer experience, and quicker speed to market the offerings. Retail cloud allows the enterprises to expand their retail footprints while ensuring streamlined operations, ease of use of latest cloud technology and an agility for an efficient
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The global artificial intelligence (AI) market in BFSI has gained significant growth due to increasing usage of AI and machine learning technologies around the world. Other factors driving the growth of the global AI market in BFSI include increase in large and complex dataset, also known as big data, in the banking industry. Big data enables companies to democratize the data. Besides, it helps the owners to access, manage and analyze their data without
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According to a report by the United Nations (UN), the global population is expected to reach nearly nine billion people by 2050. This indicates a significant increase in agricultural production to meet the growing demand for food, globally. Also, it has led to development of new technologies, such as artificial intelligence, in agriculture. Agriculture industry demands new and innovative technologies to face and overcome the growing challenge of meet the
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Over the last few years, artificial intelligence (AI) has shifted from being a branch of computer science to an everyday technology that majority of consumers carry in their pocket daily, such as an Apple smartphone with voice input Siri. The artificial intelligence technologies has been gaining significant interest in the media and advertising industry in the recent years. Although the applications for artificial intelligence in the media and advertising business are still in
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Over the past decade, the use of artificial intelligence (AI) and machine learning technologies in the oil and gas industry has gained significant interest. This has led to the growth in artificial intelligence market in this industry. With increasing challenges faced by the oil and gas industry in the past for exploration and exploitation of hydrocarbons, a cross disciplinary approach is being rendered which requires some critical processes to be semi-automated and some
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In recent times, artificial intelligence (AI) has become more prevalent in everyday life, as its adoption has been increasing in several areas, including digital assistance and autonomous vehicles. Artificial intelligence has gained huge interest of retail sector as brands and companies have rapidly started adopting this technology, realizing the benefits of automating their operations. Artificial intelligence has brought positive shift in the retail sector by improving the
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Web content management (WCM) refers to the software system, comprising a set of tools that provide organizations with a way to manage digital information on website. Web content management system has become crucial for the growth of a business organization as content marketing has evolved as a pivotal element in developing digital marketing campaigns. A WCM system provides large enterprises and small & medium enterprises with a central
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Software-defined wide area network (SD-WAN) or software defined WAN, is an application of software defined networking (SDN) technology, which is applied to traditional WAN connections. The application enables reliable, secure and performance specific enterprise network connection, including data centers and branch offices, which are separated over large geographic locations. The global SD-WAN market has gained traction in recent years due to low
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Over the years, world of sports has experienced an increment in the use of analytics. The global market for sports analytics is driven by the increasing needs of sports organizations to analyze and gain insights on-field and off-field data obtained from various sources. Some of the factors driving the demand of global sport analytics are the increasing demand for predictive insights into fan preferences. Analytics can improve sport’s fans experience, as teams and
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The global product information management (PIM) market is driven by the increasing need for centralized system. Centralized data storage enables companies to organize and manage all the data related to its product in an efficient manner. Product information management provides secure and safe access to the information stored in the centralized database. Access to any information is provided to the user only after the completion of all the required
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The global software defined data center market is driven by technological advancement in data centers. Several types of software are involved in squeezing greater performance out of particular hardware, and all such software are expected to contribute to the global software-defined data centre market.
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Emergence of smart and advance technology and penetration of smart mobile systems has made the new electronic ecosystem more sensitive and conscious towards people present around the globe. With systems using techniques, such as signal processing, artificial intelligence and machine learning, the emotion detection and recognition systems are now capable of being used into the surroundings which can recognize and understand user
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The manufacturing analytics market is increasing rapidly attributed to the transformation from the traditional business intelligence (BI) techniques to advanced analytics techniques and growth of structured and unstructured manufacturing data. Some of the factors driving the demand for global manufacturing analytics market are the increasing need for process optimization, self-service access to centrally managed data, increased business agility
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Operational analytics is rapidly growing with transition from traditional business models to advanced business intelligence (BI) and analytics techniques. The use of big data is helping organisations to operate in more data driven and smarter manner. Moreover, operational analytics enables better decision making for steady growth of businesses across industries, with well-structured data processing, streaming business applications such as customer
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Globally, organisations are rapidly focusing on gaining maximum valuable consumer insights to improve their product and services. Crowd analytics solutions collect aggregate and find critical information that relate to everyday living of people. By using specific models of data sourcing and extraction by crowd analytics, the organisations can obtain ideas and quality insights of decisions that are needed to achieve cumulative results for better business
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The global energy management system market is expected to grow at high growth during the forecast period. Though, EMS market is specifically meant for commercial establishments, but their usage is not just limited to it. These can also be installed and used in residential establishments, for example a large residential community, helping them achieve their energy efficiency goals. Asia-Pacific is expected to register a high growth in demand of EMS by
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The telecommunications industry is very multifaceted with large number of players, economic interventionism and continuously evolving business model. The mobile subscription penetration in most of the developed countries has reached more than 100%, and hence the average revenue per user (ARPU) has dropped significantly in the recent years. As a result, the mobile virtual network operator (MVNO) market in developed countries witnessed rapid growth during the recent years.
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Geographically, North America has been the largest contributor to the global gamification revenue. However, the gamification market is expected to witness a substantial growth in Asia-Pacific during near course of time. This is primarily due to the growing population, especially in countries such as India and China, and rapid increase in the adoption of smartphones and digital devices by different age groups. In addition, the creative innovation mindset of population in the region to develop smarter and user-fri ...Continue Reading

Self-service technologies are interfaces which allow the consumers to avail various services independent of service employee involvement. Customers prefer to use these technologies as they require fast service and hassle free transactions. The demand for self-service machines and automated devices, wireless communication, technology advancements and remote management
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The need for increased scalability enabling easy administration of the IT infrastructure is a major factor driving the growth of the global software testing services market. Software testing provides an independent and objective view of the software, and allows the business to understand the risks of software application. The improved efficiency and faster time to market is another growth
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Consumers can use mobile phone to pay for wide range of services, and digital or hard goods. The growth in smartphone and mobile internet users, and greater convenience and accessibility are the key growth drivers for the global mobile wallet market. The increased use of mobile commerce and different functionalities offered by mobile wallets, as compared to physical wallets are some
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The global engineering services outsourcing (ESO) market is growing, as organizations seek cost-saving opportunities. The constant increase in cost reduction and increasing demand for fast delivery of products and services are some of the factors, driving the growth of the global engineering services outsourcing market. The increased global competition has increased the
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The technological developments in gaming software and hardware are expected to drive the growth of the virtual reality in gaming market during the forecast period. Additionally, the varying lifestyles assisted by growing disposable incomes of consumers are expected to drive the demand of virtual reality in the gaming industry. The increasing expectation of users to
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As the benefits of big data are continuously evolving, the industries are focusing on implementing big data analytics for test and measurement into their organizational structures. The big data analytics for test and measurement can be used to ensure quality maintenance, reduce product development time, and achieve real-time analytics for maintaining the structural health of safety-
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The reduction in operational costs, enhancement of workforce skills, and flexibility in custom requirements are some of the growth drivers for the global network management services market. The managed network services market is witnessing accelerated growth, because of the penetration of technologies including cloud computing, mobility, and big data across different industry
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Digital gaming has become an archetypical part of modern education system. The introduction of advanced technologies, such as data mining technique has increased the market penetration of education gamification in recent years. The education gamification engages students in a reliable learning experience. The future potential of the global education gamification market
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The increasing demand of simulation products and virtual reality is increasing the market penetration of visual computing. The market for PC computing has become less attractive in the recent years, owing to the decreasing popularity of PC gaming. The growing demand of video content on mobile devices, such as smartphones, automotive media system, and tablets is fueling the
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Instant messaging is a form of online chat, which offers real time text transmission over the Internet. In this procedure, messages are transmitted between two consumers. Some of the advantages of instant messaging include its free usage, ease of use, and widespread availability on different platforms and devices.
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The mass notification system has attracted many industries, including facilities management, fire safety, health safety, and business continuity management (BCM). Currently, more than 60 vendors are operating in the mass notification market. The emergence of many regional level and small players has increased the competition in the
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One of the evolving trends in the global voice recognition market is the augmented demand for voice recognition, in the healthcare sector. Voice recognition helps in refining efficiency by reducing the time taken for filling out charts, and notes for patients. This helps in verbalizing notes faster and saves time while treating and diagnosing patients. Voice recognition market is
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The gaming industry has undergone digital content revolution in the past few years. Considering the outcome, the uses and business models in this industry have also changed, through the effect of disintermediation, changes in the pricing structure, and deﬂated production costs. From the supplier perspective freemium games is one of the preferred routes, as it holds the majority of
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The global big data market is mainly driven, by increasing market of consumer, and machine data. The increasing detail and volume of information captured by enterprises, the upsurge of multimedia, social media, and the internet of things, is expected to fuel the growth of the big data market, in the near future. Some of the other drivers fuelling the growth of the big data market, are
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The growing numbers of audience attending real-life tournaments, and watching e-sports online, are the major drivers for the growth of the e-sports market. Approximately 85% male and 15% female, with 60% of spectators between the age group of 18- 34, contribute to the global e-sport market. Organized competitions have been a part of video game culture for long, and their
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The global music composing software market is mainly driven by the growing media and entertainment industry, which encourages and motivates the youth, to make their own music compositions. The growing customization in music is another major factor, driving the growth of the global music composing software market. A pool of customizations ranging from building
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The possibility of data backup in cloud is one of the major drivers of on-premises, and cloud-based solutions market. With Cloud, data can be stored as a backup, and can be accessed, whenever needed. Some of the other drivers of cloud based solutions are lower entry cost, integration and scalability, pay-per-use functionalities, and total responsibility of the vendor to updates, uptimes
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The global gaming market has been persuaded by the evolving number of users, who choose gaming for entertainment. Now-a-days, users not only consume entertainment, but also actively participate in it. The global gaming market presents a more extensive and diverse mix of opportunities and challenges than ever before, which varies from competitive gaming to cosplay,
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Marketing is going through its own revolution, which is far beyond outdated strategies to analytics, and data-driven approach that delivers quantifiable results. The innovative technological implementations and emergence of massive amount of data overflow are driving the predictive analytics market. The focus of business enterprises has changed from conventional business
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The image recognition market is growing by a significant rate due to increased use of smartphones, technology being embraced by various verticals, and increased demand for augmented reality (AR) and virtual reality (VR). Increasing demand for data analytics, increasing use of image recognition in media, branding and entertainment, and increasing mergers and acquisitions
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The growing need of continuous monitoring in asset-intensive industries and organizations for wide range of technologies, physical and human assets has increased market penetration of asset management system in recent years. Asset-intensive industries uses asset management system for wide range of applications including repair machinery, inventory and production,
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The sudden rise in demand for big data analytics is a major factor driving the growth of the global hadoop market. In the recent years, industries have experienced a huge explosion of raw, structured and unstructured data, which has compelled the application of big data analytics. The market trend for the need of cost-friendly, agile processing of business data has established
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The major factors driving the augmented reality and virtual reality technology are the advancement in internet connectivity, and computer technology. The increased demand of augmented reality and virtual reality applications in healthcare industry is a major cause for the tremendous growth of the augmented reality and virtual reality market. The other driving force for virtual
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The enterprise governance, risk and compliance market is growing at a considerable rate due to the increasing global operational efficiency and reduced costs, growing business partnerships and associations; and government regulations and compliance mandates. Rise of the software enabled business and higher investments to manage compliance are some of the
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Faster recovery of data, greater flexibility and cost effectiveness are the major drivers for the global disaster recovery as a service market. Some of the other factors driving the global disaster as a recovery market are low cost, virtualization, high level of automation, easy deployment, recovery and secure storage and backup and 24x7accessibility.
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Software defined storage hybrid storage arrays, and deployment of slotted drive system (SDS) are some of the major trends, in the global enterprise network-attached storage (NAS) market. Now-a-days, data centers have become software specific, which is attained through improvements within NAS systems. Hybrid arrays are established by integration of both NAS, and storage area
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The increasing market of mobile and web platform, evolution of next-generation cyber security solutions, and need of integrated security solutions are some of the growth opportunities, which contribute towards the global IT security spending market in the forecast period.
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The operation support systems (OSS)/business support systems (BSS) market is growing with a considerable rate due to the growth of the telecommunications industry, rising approvals of convergent billing systems, and increasing requirement for customer care services. Rollout of next generation operation support service framework is providing ample opportunities to the
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The identity and access management (IAM) market is mainly driven by the declining number of services required for operation of an IAM development (via- cloud IAM). This is due to the fact that it is very difficult for small and medium sized enterprises to afford conventional cost structure. The small and medium sized enterprises across the globe are expected to invest in identity and
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The global customer experience management market is driven mainly by rising customer demands across several products and categories. The satisfied clients and customers are the key for the success of an organization as every company wants their customer to come back to them. Dissatisfied customers not only switch their preferences to other companies, but also share their
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The digital signage market is growing at a considerable rate due to cost-efficiency. . Emerging technologies such as ultra-high definition and growing demand for signage solutions for retail, hospitality and government organizations are some of the factors providing growth opportunity to the digital signage market in the coming years.
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The increasing use of eDiscovery resolutions in the regulatory and government agencies, and the rising government regulations, supporting the implementation of eDiscovery solutions in the government organizations and offices, are some of the major factors driving the growth of the global eDiscovery market. Administrations are deploying eDiscovery solutions for effective information
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The need to reduce the total cost of ownership of data, and the increasing requirement of data management in organizations as an indispensable demand for business continuity are the major growth drivers of the Enterprise Data Management Market. Most enterprises through different verticals are dynamically framing data management strategies, and measures to ensure data
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Conditional access systems (CAS) refer to content protection solutions used widely to control unauthorized contents or intruders to access to audio and video content. Generally, these systems are installed at the receiving end of audio and video such as digital set-tops boxes of the consumers. One of the most dominant factors driving the conditional control system market is the
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The global location based services market is driven by a number of factors, including surging market of smartphone and tablets in the developing countries, availability of low-cost GPS devices, advancement in analytical capabilities in communication technology, increasing use of vehicle tracking and management and the expansion of 3G and 4G internet services in developing markets.
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The digital asset management market is growing with a considerable rate due to rising demand for collaborative digital workflows, escalating the need for compliance with regulatory standards and mounting concerns about misplaced data and loss. Growing demand for integrated solutions pertaining to marketing initiatives and mounting requirements for software as a service
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The cloud computing services market is expected to gain acceptance and become a key element in delivering IT services because of the growing need for fast and flexible IT systems and significant advantages which cloud offers compared to traditional on-premises data center services. With several newcomers, such as Enomaly Inc., GoGrid LLC and AT&T, instilling innovations,
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Software-based encryption uses software to encrypt and decrypt data-at-rest as well as data-in-transit. By rendering the unreadable data for unauthorized people, encryption software ensures the security and safety of the confidential data stored in files, folders or disks. Under the encryption process, plain text is converted into a coded message or cipher texts, thus restricting
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